Ikea closes US factory cutting 300 jobs

Ikea is set to close its only US factory in Danville, Virginia and will move its operations to Europe in a bid to cut costs.

The factory - which employs 300 people - produces wooden products including shelves and storage units and opened in 2008.

Site manager Bert Eades said: “We made every effort to improve and maintain the competitiveness of this plant, but unfortunately the right cost conditions are not in place to continue production in Danville.”

M&S faces backlash over plastic toy giveaway

M&S is facing backlash from environmentally concious customers over its plastic toy promotion. 

In a promotion called Little Shop, the retailer is offering miniature replicas of its most popular food items. Shopper receive one free for every £20 spent in store.

Each toy comes in a separate wrapper and many shoppers have taken to social media to blame M&S for producing needless plastic waste.

Amazon boasts record breaking Prime Day

Amazon Prime Day broke records for the online giant as sales surpassed its previous Black Friday and Cyber Monday sales combined. 

The online Goliath has hailed its biggest shopping event in Amazon history after its Prime members bought over 175 million products during the 48-hour flash Sale earlier this week.

Asos issues second profit warning due to ‘operational issues’

Asos has lowered its full-year expectations for the second time after its US and European arms suffered ongoing ‘operational issues’.

Total group revenue was up 12% to £919.8m for the four months to June 30 with sales in the UK up 16% to £334.1m for the same period.

Eve Sleep halves losses as sales fall

Eve Sleep has reduced its underlying EBITDA losses but continued to struggle against a ‘backdrop of substantial retail headwinds’ as sales fell.

Eve Sleep posted a 0.9% dip in its UK and Ireland sales and a 29% drop in sales in its French division during the six months to June 30. Group underlying revenue for the same period decreased by 8% to £12.9m.